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20121121
20121121
Search Results 0 to 16 of about 17 (some duplicates have been removed)
are working on, no progress on the fiscal cliff either. congressional leaders are taking a holiday breaks from the talks, but staff members have not been encouraged by their early huddles. let me bring in politico's deputy white house editor and joanne green, managing editor of the brie owe and msnbc contributor. good morning. >> good morning. >> we'll get to the situation in the middle east in just a minute. i want to start with the fiscal cliff and politico's front page today. "rough start for fiscal cliff talks." looked like everything was going really well after that first meeting. now that the dealing is really getting under way, the sources tell politico neither side seems actually all that serious. what's going on here? >> our reporting shows that despite the politics of the seeming to suggest that a deal should be struck and despite the meeting that happened with the congressional leaders at the white house last week that had everybody walk out of it and use the word constructive and talk about how nice the meeting was, when they've gotten down to brass tacks and what would have to be
the likelihood of one of the 20 the people -- >> primaries again. now let's talk about the fiscal cliff and house and senate leaders expected to meet with the president next week and hopefully negotiations will continue. staffers reportedly have made little progress over the last week. politico is writing this saying that the gop's opening offer, the sources said would freeze the bush era tax rates, change the inflation can clated for entitlement programs, keep the estate tate at 2012 levels and overhaul of the tax code and not provide a revenue target. martin, if this is the starting point, if that's the starting point -- are republicans as serious about compromise as they claim? >> that offer's like the sticker price at a car dealership. >> with room. >> you know you won't pay that and then the big question unanswered now is will republicans budge on rates or revenue? we have to distinguish. republicans are open to increasing tax revenue by a cap in deductions, closing loopholes and so far they haven't shown willingness to moving tax rates up for upper income americans. do they talk about entit
and spending cuts that make up the fiscal cliff ab isn't offsetting changes would pose a substantial threat to the recovery. >> the central bank chief urged the government and congressional leaders to take prompt action. president obama is negotiating for a resolution with republicans but bernanke says delays in reaching an agreement would raise uncertainty over the u.s. economic outlook. he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to slowdown in the global economy and tensions over disputed islands with china. finance ministry officials released preliminary figures shortly before the financial markets opened. last month's deficit came to about $6.7 billion. exports fell by 6.5% from a year earlier. that's in yen terms. japan's exports have fallen for five months in a row. cars and steal led the drop last month. impo
. >> asking what our nation's leaders are doing to avoid the fiscal cliff. i'll speak with one of the fix the debt ceos on the other side of this break. stay with us. aughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. >>> welcome back. an extended thanksgiving break as washington is turning heads on wall street. just listen to mario this morning. >> if you have these guys in new york, mayor bloomberg, mayor booker, the governors, cuomo, christie, malloy, if th
on that one. >>> no vacation for business leaders when it comes to worry being the fiscal cliff. what's the best way to solve it? we'll ask democratic senator of maryland. also ahead, the tablet war is heating up as we approach black friday. which device will santa be carrying? we had santa on the floor. he wasn't holding a personal device. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. thrget 3 yearsgiving weekend, interest-free financing and save up to $600 on beautyrest and posturepedic. even get 3 years interest-free financing on serta icomfort and tempur-pedic. mattress price wa
that bernanke was talking tough. and they said the fed's role in the fiscal cliff negotiations is to communicate. >> tell the world and the individuals in the political establishment that they have to help get their act together or we have a problem, and that notion of preaching from the pulpit that he has is very fundamental. >> susie: is there another role or more of a role for the fed? >> i think to be a cheerleader and to be on the sidelines telling the government they have to do what is right for the public. >> susie: as for what the fed can do if the u.s. heads into recession because of the fiscal cliff, bernanke says, not much. >> in the worse case scenario, where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which, according the c.b.o. and our analys, would send the u.s. economy into recession, i don't think the fed has the tools to offset that. >> susie: members of the audience agreed. >> he was very frank in saying, you know, "we can try," he essentially said, "we will try, but we don't have anything in our arsenal that comes close." >> susie: bernanke is alrea
quickly face the challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration will reduce federal funding direct to san francisco by at least 26.5 million dollars a year, every single year. we would see over $5 million of cut to education, and almost $3 million of cuts from public housing. san francisco's allocation of medicare would be cut by $2 million. funding for the wic workforce program would lose almost $5 million. there would be a $1 million cut to housing services for people with hiv and aids and more than $1 million cut to the community development block grant program. ladies and gentlemen
to the fiscal cliff. >> that's the million-dollar question. where do things really stand? >> billion dollars. >> becky, we probably won't know until around christmastime. >>> millions of people will hit the roads, runways and malls over the next 48 hours. what can they expect during the thanksgiving holiday weekend? we have flooded the zone with our team, nbc's jeff rossen on travel and cnbc's courtney reagan on holiday shopping. but millions of americans will hit the road for this thanksgiving. more than 40 million to be precise. and nbc's jeff rossen is literally on the road covering the holiday travel for us. hi, jeff. how are you? >> reporter: hey, luke, and happy thanksgiving. right now we're driving on i-95 north heading out of new york city into the suburbs, connecticut and such. and as you can see we're already hitting some traffic. in fact, this is the busiest travel day. 43.6 million americans traveling today and most of us are traveling by car. 90% of travel today is by car. if you want to impress your friends, average distance 588 miles. also another interesting tidbit here. in t
that our leaders need to solve the problem and they are aware they need to solve the problem. the fiscal cliff is all about uncertainty. uncertainty is bad for everybody. it's bad for the investor. it is bad for the consumer. it is bad for the retailer. i think our elected officials understand that. i think the president understands it. and fortunately, i guess in an odd way the downside is so great they have to come up with a solution? >> how about if they don't? how would it be for your business? >> i think it is going to have an impact on the business only due to uncertainty. but i think there is a lot of positive influences in the consumers' minds right now. the fact that affordability is better. the fact that they feel better about their jobs. the fact this they see job growth happening. certainly here in california we've had job growth. so i think in our world in southern california we're going to be in pretty good shape. but uncertainty is never good. i don't think there should be an option. >> mr. caruso, yesterday craig barrett, former ceo of intel, described california where yo
to u.s. leaders negotiating over the so- called fiscal cliff about the serious financial impact looming on the horizon. that's where we begin this morning. how confident are you about the state of the u.s. economy? what steps are you taking to prepare for the potential impact if the u.s. goes off the fiscal cliff? give us a call this morning. you can also catch up with us on all your favorite social media sites, twitter or facebook. or e-mail us. thismorning to you on wednesday, november 21. we are talking about federal reserve chairman ben bernanke's comments yesterday about the fiscal cliff, and getting your thoughts on bthe u.s. economy. and this headline -- also, in the financial times -- to tell little bit more about ben bernanke's , and sister day we turn to david clarke of "politico," their financial services editor. thanks for joining us. guest: thanks for having me. host: what is making the most waves from his speech? guest: in the past he has warned that congress and the president's path to take care of the fiscal cliff. yesterday he said it is not simply doing it but how they
action to avert the fiscal cliff. and if you're looking for a straight-shooting voice on this topic, we have him in studio today. dick kovacevich is our news maker of the hour. >>> plus, breaking economic news. weekly jobless claims now just about 30 minutes away. >>> and money manager mario cabeli is ready to gobble up a few more stocks. >> we like to talk about housing, autos, we can talk about niches. >> before you head over the hills and through the woods to grandmother's house, you go the final hour of "squawk box" begins right now. >> welcome back to "squawk box" here on cnbc first in business worldwide, i'm joe kernan along with becky quick and andrew ross-sorkin. our guest host mario cabelli. a lot to discuss with him. first, though, becky has a couple of headlines. >>> greece's international lenders failing to reach a deal to reduce the country's debt, and released its next bailout payment. the eurozone finance ministers, the imf and central bank are going to be gathering again on monday, but they need a deal before they can pay out any more of that money out to greece. that is
a congress that is sequestered to walk off a fiscal cliff. now i said, that issue, whether of our democracy can truly function and have leaders ready to make the decisions the need to be made in order for the country to govern itself is the issue that will determine if we have national security, and it is the same overseas. i go to the asia-pacific region. they are having territorial disputes over these rocks, and obviously, it is about the resources that are offshore, but they are having these disputes over these areas. we have to maintain freedom of the seas. frankly they looked at me and say, what are you talking about? how can you tell me you haven't approved the law of the seas treaty. how can you tell us what the hell to do here? they're right. they're right. we are the only industrialized country that has not approved that treaty, the only industrialized country that has not approved that treaty. in order for us to have credit built to be able to argue about freedom of navigation, maritime rights, that is essential, in order for us to deal with the challenges that we are facing as a
or walk off a fiscal cliff? and i said, you know, that issue of whether our democracy can truly function and have leaders that are prepared to make the decisions that have to be made in order for this country to govern itself is, i think, you know the issue that will determine ultimately whether we have national security. and it's the same way with the law of the seas. i go to the asia pacific region and they are having territorial dispute over these rocks out there -- [laughter] >> obviously, it's about the resources that are offshore those rocks. but they are having these dispute over these areas. and what are -- one of the arguments i make is, wait a minute. we have to maintain freedom of the seas and maintain navigation rights and some of these countries look at me and say, you know, what are you talking about? you haven't approved the law of the seas treaty. how can you tell us what the hell to do here? they're right. they're right. we are the only industrialized country that has not approved that treaty, the only industrialized country that has not approved that treaty. in order fo
Search Results 0 to 16 of about 17 (some duplicates have been removed)

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